Just to name one reason why Cointellect appears to be similar to Coingeneration day by day. Take the latest news for example. This news was published on the Dashboard when user click on Collect earning and Clicked on Cryptopay, the message appears as follow: “Please note that CryptoPay withdrawals will temporarily be disabled while the developers make some upgrades to their API. Withdrawals will be re-enabled within the next 2-3 days.”
The message above was published on January 13th, and also appears in the official news area of cointellect news website. However today is January 17th, and that message is still there and Cryptopay don’t work. Way passed 3 days and Cointellect don’t care about not meeting deadline nor care about updating the members what going on. Appears to be a one man show, appears to be Coingeneration.com style.
Most likely, the Cryptopay problem was caused by Cointellect not having money to send to Cryptopay, so therefore withdrawal earning cannot be done. It is most likely not an API problem or anything like that, it was simply Cointellect have no funding to send to Cryptopay, and there is no way Cointellect can catch up with the funding payout for all the backlog of earning they need to pay. This is exactly what happened when Payza frozen Coingeneration.com account but released later but Coingeneration didn’t pay the members instead they kept it and ran away.
Part of the reason Cointellect no longer have money is because Bitcoin price dropped dramatically, and if they have real data center mining cryptocoins they would be in trouble not have money to pay for maintenance rent and electricity. If cointellect profit by the continue flow of new investment then they’re also in trouble, because people are investing much as this time due to Bitcoin crash. I will not be surprise if indeed Cointellect will come out being transparent and said due to bitcoin crashed they no longer have funding to pay for investors. Or Cointellect will simply stay low and continue on what they do best, most likely making up stories to delay payout, cannot pay, but will fulfill all payout at a later time which most likely will never happen.